Construction Sector Output Drops 4.3%

Construction

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The output of Hungary's construction sector dropped 4.3% year-on-year in December, according to data released by the Central Statistical Office (KSH) this week.

The output of the buildings segment fell 6%, and civil engineering output edged down 0.5%. In absolute terms, construction sector output reached HUF 882 billion in December.

The buildings segment accounted for 66% of the total. In a month-on-month comparison, construction sector output climbed 5.1%, adjusted for seasonal and workday effects.

The order stock was 23.5% lower at the end of December than 12 months earlier. Buildings segment orders were down 20.2%, and civil engineering orders dropped 26%.

New orders edged up 0.6% during the period. New orders in the buildings segment inched down 0.1%, but new civil engineering orders climbed 2%.

For the full year, construction sector output fell 5%.

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